v3.26.3
Income Taxes
 3 Months Ended
Sep. 30, 2026
Income Taxes [Abstract]  
INCOME TAXES
10.   INCOME TAXES

 

Advanced Biomed Inc. is incorporated in the State of Nevada and is subject to U.S. federal income tax at a statutory rate of 21%. Nevada does not impose a state corporate income tax.

 

Acellent Technologies (Hong Kong) Co. Limited, which was acquired during the year ended June 30, 2026, is subject to Hong Kong profits tax. Under Hong Kong’s two-tiered profits tax regime, the first HK$2 million of a corporation’s assessable profits is taxed at 8.25%, and assessable profits in excess of HK$2 million are taxed at 16.5%.

 

The Company recognized no income tax expense or benefit from continuing operations for the three months ended September 30, 2026 and 2025. Deferred tax assets, net, were $1,204 as of September 30, 2026 and June 30, 2026.

 

Income tax expense was as follows:

 

      For the three months ended September 30,  
      2026       2025  
      US$       US$  
                 
Income tax expense     -       -  

 

The following table reconciles the U.S. federal statutory income tax rate to the effective income tax rate for continuing operations:

 

    For the three months ended
September 30,		  
    2026     2025  
    %     %  
Tax at U.S. federal statutory rate     21.00       21.00  
State and local income taxes, net of federal effect     —       —  
Permanent difference     (1.97 )     —  
Changes in valuation allowance     (17.76 )     (21.00 )
Nondeductible expenses     (1.27 )     —  
Effective tax rate     —       —  

  

The components of deferred tax assets are as follows:

 

    As of
September 30,
2026		     As of
June 30,
2026		  
Net operating loss carryforwards     772,192       725,157  
Allowance for expected credit losses     741,624       612,971  
Gross deferred tax assets     1,513,816       1,338,128  
Less: valuation allowance     (1,512,612 )     (1,336,924 )
Deferred tax assets, net     1,204       1,204  

  

For continuing operations, as of September 30, 2026 and June 30, 2026, the Company had total net operating loss carry forwards of approximately $3,685,961 and $3,461,993, respectively, which consists of Hong Kong net operating losses of $14,588 and $14,597, respectively and US net operating loss carry forwards of $3,671,373 and $3,447,396, respectively.

  

The Company had no net operating loss carryforwards related to discontinued operations as of September 30, 2026 and June 30, 2026.